You kill two birds with one stone when you buy a house and land package. You don’t need to build a house on the land you purchase when you buy house and land packages in Sydney. Aside from this factor, below are the other pros and (cons, as well) for buying a house and land package:
You may love having a new home
As a tenant, you can’t blame yourself for loving your new home. Having a house and land packages in Sydney gives you the privilege either to live in or rent out your new home. Living in your new home gives you the pleasure of having a new house, complete with new and high-quality furnishings. When you rent out your home, though, your passive income revenue grows or increases.
Maintenance is taken care of
Since a newly constructed home is built, the seller normally values and takes care of its maintenance services. People who own house and land packages in Sydney are spared from the need to have mechanics repair their facilities upon malfunction.
You get to exercise stamp duty savings
When you’ve bought a house and land package, you only have to pay for stamp duty associated with the purchased land. Such a situation lets you save hundreds and thousands of dollars.
There is flexibility
You’re free to remodel your new home once you’ve purchased it in the form of a house and land package. As an owner of house and land, you take control as to the ways you’d like to remodel your property.
You shoulder the seller’s profit
You disburse funds to the developer as a payment for their portion of profit in building a house and land package. New home builders shoulder the expensive marketing spending associated with the selling of a house and land package.
Its Location Maybe Somewhere You Don’t Like
House and land packages are mostly situated outside city premises. Most often than not, these properties are located in rural areas where land properties are plentiful. But, the infrastructure in these areas is poor. As a result, capital development in areas outside the city is hard to acquire.
Make, and Not Receive Any Payments
You don’t get any money while your property is in the process of being planned for construction. Likewise, you don’t get income while your property is under construction. But, loaning funds to spend on construction expenses does mandate you to pay for add-on interest fees immediately.
House and land packages can be expensive. Assess your financial capabilities before you decide to buy this kind of property. By doing so, you avoid spending more than you’re able to spend. In turn, you avoid becoming broke.